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The world that we are currently living in is changing at a rapid pace, and a lot of this change is being brought about by innovations in the tech industry. Newer innovations are coming to life on a regular basis, and the things that were once seen as hard to perform are now being done with a few clicks and a few buttons. With the abundance of innovations, it was only time before industries started to see a big swing of change. The manner in which many industries function has been significantly altered as a result of changing tech trends and this change isn’t stopping any time soon.
The Creative Destruction Effect
There are of course certain industries that have already seen a drastic amount of change and have only improved with the introduction of newer technology. However, this change is sometimes seen as two-faced, where on the one hand it promotes better efficiency for industry, and on the other hand, causes disruption to the section or people that it is replacing.
The classic example of the automobile and the horse is a brilliant demonstration of this theory. Before cars were introduced into the market, horse carriages were being used as the main form of transportation. When automobiles were introduced, the horses and those who owned them were put out of business because of the more efficient alternative that arose. However, this led to the growth of a brand new industry and newer job prospects, which proved to be beneficial in the long run. When applied to the effect that technology has on today’s industries, the newer implementation is meant to augment the work that is being done. However, there have been some industries which have seen drastic changes as a result of one particular kind of innovation. These innovations are considered to be industry changing not because of the sectors that they stand to replace, but because of the improved quality of work that can be done as a result of it.
1. 3D Printing
Industry Transformed: Manufacturing
Being able to simply print anything you like with the touch of a button may have seemed like a dream for some, but is it what 3D printing is mainly based on. The moment 3D printing started to see implementation, industries saw a number of changes to the manner in which they functioned. The manufacturing sectors of industries, in particular, saw some of the biggest applications of 3D printing which lead to better and faster production output. Today, most manufacturing industries are implementing 3D printing in some way or the other. In addition to manufacturing, the medical industry has also been implementing 3D printing when it comes to the manufacturing of some of their machines and additions. 3D printing prosthetics has also become something that hospitals are now implementing.
2. Social Media
Industry Changed: News and Media
Social Media is seen as one of the biggest innovations to come out way in the 21st century. This innovation has given us the ability to connect with people all over the world, regardless of geographical limits. In light of this, the industry that has witnessed the biggest change as a result of social media is the News and Media industry. Social media is now becoming the preferred platform for individuals to receive their news and information on, and brands are using this platform as a way to advertise their products to targeted audiences. While this may have caused a serious loss to physical media, it is something that has given rise to an entirely new sector of digital media and marketing.
3. Easy Electric Car Chargers
Industry Transformed: Automobile
The fuel that is used in vehicles is a limited resource, and at the rate of our consumption, there won’t be much left for future generations. This led to a pressing need for companies to find an alternative to the fuels that were being used in vehicles. The solution that automobile companies decided to turn to was electric cars and was seen as the better option as compared to fuel reliant vehicles. However, customers were not convinced with electric cars owing to their reliance on the alternative. Questions like "How much does it cost to charge an electric car?" sometimes came in the way of people accepting this new alternative form of vehicles. With these concerns in mind, automobile manufacturers decided to implement ways in which they could make car chargers easier to use, and more energy efficient. This was an innovation that then led to the rapid growth of the electric vehicle industry.
Industry Transformed: Publishing
A common trend among innovations that have changed industries is that they arose from a need for environment-friendly alternatives. Books and newspapers accounted for a percentage of deforestation because of the materials needed to make them. When a digitalized medium to read books was introduced, the medium was considered to be revolutionary. E-book readers have come a long way since the early days and now stand as some of the best options for those who love reading. E-books have diminished the need for hardcover and paperback books, with digital books being the option that people are now going in for. The ease at which people can own digital books is also something that has led to the emergence of this new industry. One simple E-book reader can hold thousands of books without taking up much space, which is something that avid readers often struggled with.